316 homes sold in Wiltshire during first year of Help to Buy loan scheme

More than 300 homes have been sold in Wiltshire in the first year of the Government's Help to Buy equity loan scheme has been up and running, new figures show.

Some 19,394 sales were completed in the 12 months to March 31 under the equity loan scheme, with the highest numbers of sales taking place in Leeds with 337.

Wiltshire had 316 sales and Central Bedfordshire saw 287 take place.

The Help to Buy equity loan scheme was launched last April in England and is specifically aimed at people buying a new build property worth up to £600,000.

Someone taking out a loan under the scheme can get a loan from the Government for up to 20 per cent of the property price.

With the borrower also putting at least five per cent in, they would need a mortgage of up to 75 per cent to cover the remainder.

The Government said the average price of a property bought under the scheme so far is £184,995, and the average equity loan is £36,999.

Over 87 per cent of sales under the equity loan scheme have gone to first-time buyers.

Housing Minister Kris Hopkins, who announced the figures, said: "Thousands of people have now achieved their dream of becoming home owners through Help to Buy.

"Hard working families are getting the homes they want, while housebuilding is at its highest level since 2007 and climbing."

More than 2,500 sales have also taken place through the Government's UK-wide Help to Buy mortgage guarantee scheme, which was launched last October and offers state-backed mortgages to people with deposits as low as five per cent.